The petitioner is aggrieved by the recovery proceedings initiated against the properties of the petitioner while allegedly the securitisation application is pending before the Tribunal and the same has been posted to 19.06.2014 for orders. In the circumstance of the petitioner having substantially complied with two instalments of the three instalments granted by Ext.P3 order and also considering the circumstance of further payments having been made after the second instalment, which was directed to be paid by Ext.P3 on 31.08.2013, there shall be a stay of proceedings on the petitioner depositing a further amount of Rs.10,00,000/- (Rupees ten lakhs only/-) before 19.06.2014. The regularization as also further payment of the arrears can be considered by the Tribunal. Writ Petition is disposed of. No cost.
K. VINOD CHANDRAN, JUDGE SB